The Star-Ledger
Friday, May 12, 2000
By Karen R. Haigney

Since May 1997, Bob Becker has enjoyed the power and prestige of serving as the president and CEO of NRT, the nation's largest residential real estate company. NRT operates more than 730 residential real estate offices under the Coldwell Banker, Century 21 and ERA brand names, employing more than 5,000 employees and almost 40,000 sales associates across the country.

Becker's career has been one of honesty, integrity and a passionate drive for success, both for himself and for the industry. Yet, Becker would be the first to admit that much of his career has been about being in the right place at the right time.

"I wish I could say that I knew I wanted to be in real estate when I was 12 years old. But the truth of the matter is that I sort of fell into it," he admits.

Becker's mother was in real estate, first on a part-time basis and then as an owner of a very small agency, Klintrup Realtors, in Mountain Lakes. By age 19, Becker decided to get his real estate license so that he could help out during the Summer months.

"Funny thing was, as I started to get involved, listing and selling real estate in my spare time, I found that I really loved it," states Becker. "Fortunately, I was also pretty good at it."

A few years later, Becker bought Klintrup Realtors from his parents and opened a second office in Sparta. Under his direction, Klintrup grew from three sales agents to almost 50 before Becker sold the two offices to a Coldwell Banker firm in 1980.

At that time, the Coldwell Banker company had 13 local offices and Becker joined the growing company as a manager. He soon became a regional vice-president, then general sales manager, senior vice-president and, in 1994, president and CEO. During his 15-year career there, the firm grew from 13 to more than 150 offices in New Jersey, Connecticut and New York, with more than 4,000 sales associates.

Becker was president of Coldwell Banker Residential Brokerage for about two years when HFS Inc. purchased the company in May 1996. He was asked to become president and CEO of Coldwell Banker Real Estate Corp., one of the nation's leading real estate sales organizations with over 2,700 franchised real estate offices and more than 60,000 agents and brokers throughout North America. Under Becker's leadership, Coldwell Banker Real Estate Corp. launched a new, national television advertising campaign; launched a national website, ColdwellBanker.com; developed international franchise agreements; expanded its commercial real estate division; and achieved an 80 percent growth in the number of new franchises sold.

By 1997, Becker was tapped to lead NRT and he jumped at the opportunity.

NRT's history can be traced to May 1996, when HFS Inc. (now Cendant Corp.) purchased Coldwell Banker. To remain a pure franchiser, HFS created an independent trust to own the 370 local real estate offices then owned by Coldwell Banker. Given the new relationship with Cendant Corp., all companies acquired by National Realty Trust (now NRT) became affiliated with one of its three real estate brands: Coldwell Banker, ERA or Century 21.

"The one thing that we underestimated was the ability to acquire first-rate real estate firms across the country. We had so many incredible acquisition opportunities," comments Becker. As of year-end 1999, NRT had acquired 126 real estate companies, including more than 35 multiple-office firms, and added approximately $1.3 billion to its annual gross commission income.

In his 39 years in real estate, Becker has held just about every possible position in the industry. But one thing that has remained constant is his commitment to serving people.

"For me, it's always been about people, having the ability to look at situations from another's perspective and being creative enough to help them achieve their goals, whether that be to find or sell a house or have a successful career," states Becker. "As a sales associate, I certainly liked the idea that if I did right by my clients, there was no limit to where I could go in this business. I liked having my destiny in my own hands. As I moved into managerial positions, I took a good deal of pride in helping not just the public, but also the people who came to rely on me to achieve their financial and professional goals."

With close to 40,000 sales agents and more than 5,000 employees under his direction, Becker admits that the relationship between himself and his associates has changed a bit over the years. "I don't know everyone in every office to the same degree that I used when I managed my smaller offices, but I still have the same sense of responsibility towards them; I have the same sense of satisfaction when I see them doing well and achieving their goals," he says. "Although my career has grown from working with three people in Mountain Lakes to overseeing some 40,000 people nationwide, I have the pleasure counting the first person I ever hired among my dearest friends; he's still with me as the current manager of our Mountain Lakes office."

Another thing that has remained constant through the years is Becker's professional philosophies. "I've worked under many different slogans over the years, but the one that resonates most in my mind is that 'No commission is worth our reputation,'" he reveals. "I really live that and preach it to those who work with me."

From a business perspective, Becker's working philosophy is based on constantly asking two essential questions: Why are we doing something? How can we do it better? "The answer to the second question is always yes, but an honest answer to the first question will often tell you how to get there," he states.

Such questions and core values ultimately lead to innovations and Becker has been at the helm of quite a few. "When I first started, the law in real estate was caveat emptor, or buyer beware. Some 10 years ago, we were one of the first companies to bring seller disclosure, the law that requires sellers to fully disclose the condition of their property at the time of listing, to the marketplace. At the time, the idea was revolutionary and quite controversial. We were also one of the first companies to enforce agency for buyers and sellers here in New Jersey," states Becker.

Other innovations include a Coldwell Banker program called HomeMatch, which connected people to information that they needed in order to make educated decisions about an impending move, and the Concierge and Select Services programs, which offer NRT customers myriad services to make real estate transactions easier.

According to Becker, one of the biggest challenges facing NRT LLC and the real estate industry in general is maintaining a balance between technology, success and service.

"We have to remember that the focus of our endeavors is being played out in kitchens across the country when a single homeowner and a single sales agent come together to buy or sell a home. It is a constant challenge and responsibility to balance the growth and largeness of our company and our industry with the simplicity of the basic service we provide," Becker stresses. "It is incumbent upon as real estate professionals to provide an ever higher level of service; we want to ensure that the entire process of buying or selling a home is a positive experience for each and every customer."